S4 EP02 - Process Improvement With Journal Entries with Kerry Peters & Cari Corozza

<p><span style="font-weight: 400;">One of the main points of frustration for Business Central users is handling journal entries. We often receive feedback on how users spend a lot of time manually entering things and doing reversals for accruals in the system. There is a ton of functionality in BC that not many are aware they can take advantage of. </span></p> <p><span style="font-weight: 400;">NVS Accounting Manager Cari Corozza shares how they were able to help a company go from 15 days to five days close. By enabling the company to save ten days in the accounting cycle, they can spend more time putting together account schedules, financials, analyses, and other important work. </span></p> <p><strong>Essential points covered in this episode:</strong></p> <p><span style="font-weight: 400;"> </span><span style= "font-weight: 400;">✔️ How much time do you spend manually posting transactions to convert to ledger entries?</span> <strong>One of the first things we recommend at New View Strategies is using recurring general journals.</strong> <span style= "font-weight: 400;">This allows you flexibility with journal entries booked month after month, quarter after quarter, or maybe just once a year. This essentially builds a template for those journal entries and allows the user to say how often they want those journals to be generated and whether or not they want the amounts to be reset or stay the same.</span></p> <p><span style="font-weight: 400;">✔️ What's the best way to put things from Excel into Business Central for journal entries? Many people will use configuration packages or edit in Excel or journal imports.</span> <strong>Corozza points out that copying and pasting are seemingly simple yet the most efficient and accurate form to get journal entries.</strong> <span style="font-weight: 400;">"What I found in all of my years is that it's efficient and accurate for getting journal entries either from Business Central to Excel or from Excel to Business Central. Once we help them create these templates in Excel, t